At nearly three hours, the epic adaptation of J.R.R. Tolkien’s 1937 children’s book is a luxuriant return to Middle-earth for director Peter Jackson, who filmed the first installment of this eye-popping trilogy in his homeland of New Zealand.

As confident as it is visually stunning and rich in detail, “An Unexpected Journey” is more than up to the task of launching a new franchise while shouldering Jackson’s Oscar-winning “Lord of the Rings” trilogy — for which “The Hobbit” films act as prequels.

Sharing some of the same cast, crew and even scenery as “The Lord of the Rings,” the first “Hobbit” film spends its sweet, good-natured time introducing us to the unassuming Bilbo Baggins, the wizard Gandalf and their 13 dwarf companions with whom they’ll travel over the next two films to reclaim the lost dwarf kingdom of Erebor and fight the dragon Smaug.

In that way, “Lord of the Rings” fans will instantly feel at home in Bilbo’s Shire abode, with its warm, polished surfaces and saturated earth tones. The kid-friendly antics of the played-for-laughs dwarves sets out a welcome mat amid the speechifying and flashbacks — although the intense action later on easily matches “The Lord of the Rings” flicks.

It’s all a bit more dense than 2001’s “Fellowship of the Ring,” which launched the first trilogy. And truly, it takes longer to get this quest going. But once we do we’re graced with the sweeping vistas and rich, stately score that made the “Lord of the Rings” films such entertaining, improbably faithful adaptations of Tolkien’s work.

It’s also a lot of content to squeeze out of a relatively slim children’s tale. But Jackson smartly incorporates material from the appendices of Tolkien’s massive “Lord of the Rings” tales (for which he retained the adaptation rights), sprinkling emotional depth and character motivation where scenes might otherwise ring hollow.

Sure, it’s not the self-contained wonder that was 2002’s “The Two Towers” — the best of the “Lord of the Rings” films in its economical storytelling and appealingly dark tone. “An Unexpected Journey” would have benefited from trimming down the battle sequences and getting to the scene where Bilbo and Gollum (again brilliantly voiced and played by Andy Serkis, via digital performance capture) match wits for the magic ring.

But this isn’t supposed to be a taut thriller or brisk love story. Millions know and love this world and want to see it played out properly on screen. And if you are unfamiliar with the 75-year-old source material, arguably the daddy of all high fantasy tales, that can be easily rectified at any library.

Jackson also plays with new technology, using the surreal, speeded-up-looking 48 frames-per-second shooting speed and daring to go high-def and 3D with outlandish environments and characters. It doesn’t always work, but it’s incredibly gutsy.

And anyway, these are not George Lucas-quality crimes. A slightly different edit or display choice to make the frame rate look more natural (which could be easily accomplished) would hardly alter the soul of the film — as Lucas’ tinkering with the original “Star Wars” trilogy did. Jackson’s assured use of a variety of visual tricks — forced perspective and miniatures in addition to green screens and computers — proves that he just wants to create the most engaging world, not stroke his own ego.

The fact that the “Hobbit” films even got made is a minor miracle. The fact the first one occasionally reaches the wonder and brilliance of the best “Lord of the Rings” moments is both encouraging and a suitable preview of the next two.

John Wenzel: 303-954-1642, jwenzel@denverpost.com or twitter.com/johntwenzel

John Wenzel is a member of the Now Team, having covered comedy, music, film, books and video games for The Denver Post for more than a decade. As a proud Dayton, Ohio native, his love of Guided by Voices is about equal to his other obsessions, including Peter Jackson's Middle-earth, "Mr. Show" quotes and Onitsuka Tigers.

Vic Damone, a pop crooner whose creamy baritone and heartthrob good looks propelled his success at the jukebox and on-screen in the post-World War II era, and for five decades more in nightclubs and concert halls, died Feb. 11 at a hospital in Miami Beach. He was 89.